- Analytics
- News and Tools
- Market News
- Biden’s infrastructure package to weigh on energy markets – CE
Biden’s infrastructure package to weigh on energy markets – CE
FXStreet reports that Biden’s infrastructure package is ambitious, but economists at Capital Economics doubt it will pass in its current form.
“It is unlikely the Plan will pass as a standalone bill, especially not in its current form. To do so, the President would have to garner support from at least 10 Republican senators or eliminate the filibuster, both of which appear unlikely. As a result, we think the most likely outcome is that the Plan is passed through budget reconciliation sometime after October this year, in a bill that would probably include aspects of the American Jobs Plan and Made in America Tax Plan.”
“On the energy side, it would pose a significant downside risk to our long-term oil, natural gas and coal price forecasts through an accelerated adoption of electric vehicles and the replacement of fossil fuels in electricity generation. However, we are particularly sceptical about whether the carbon-free electricity generation target will end up being included in any final bill.”
“While there could be a sizeable impact on the prices of nickel and cobalt from faster EV adoption, we think that the impact on most industrial metal prices would be fairly small.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
